THE TREND
(Boursier.com) — Modest rebound this Wednesday with the CAC40 gaining 0.35% at the end of the morning to 7,815 points. The Parisian index closed yesterday below 7,800 points for the first time since February 20 after two marked drops of -1.35% on Monday and -1.33% on Tuesday following the surprise dissolution of the National Assembly and the emergence of political risk in France. We still observe a lull in the 10-year OAT rates which return to 3.23% after a peak of 3.34% yesterday.
European financial markets have performed much better over the last two days and the Nasdaq even set a new record yesterday.
To follow this afternoon the publication of inflation in the United States for the month of May, at 2:30 p.m. Figures which could well change the trend, ahead of the decisions of the American Federal Reserve.
RISING VALUES
* The banking sector is trying to bounce back like theAgricultural credit which rose 2.2% to 13.9 euros. Jefferies raised its recommendation on the green bank to ‘purchase’ while increasing its target from 13.4 to 21.6 euros. The broker explains that the decline of French banks, since President Emmanuel Macron called early elections, presents an opportunity. The business models of national financial institutions are relatively defensive in the face of local political changes, with none of the three main players focusing predominantly on the country, or only on retail and commercial banks. BNP Paribas also increases 1.2% to 61.5 euros.
* Ipsen stands out with an increase of 4% to almost 126 euros. The laboratory is being sought after the announcement of good news from the United States. Local regulatory authorities (Food and Drug Administration) have granted approval, via an accelerated procedure, to Iqirvo (elafibranor) 80 mg tablets for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid (UDCA). ) in adults with an inadequate response to UDCA, or as monotherapy in patients intolerant to UDCA. Iqirvo can be prescribed now in the United States for eligible patients.
* Fnac Darty rose 1.6% to 35 euros. Oddo BHF has raised its recommendation on the distributor of cultural products and household appliances to ‘neutral’.
* Viridian(+3%), formerly CGG, was selected by the Berkine Group, a joint venture between Sonatrach, Occidental Petroleum and other international partners, for the seismic imaging of a high-density study of 3,400 square km currently being acquired on blocks B404a and B208 in the Berkine basin, in eastern Algeria.
FALLING VALUES
* Atos continues its fall of 18% to 0.79 euros. Alten entered into exclusive negotiations with Atos for the acquisition of the Worldgrid activities held by Eviden for a binding enterprise value of 270 million euros. Worldgrid provides consulting and engineering services to companies in the energy and utilities sector. The company currently employs nearly 1,100 employees and generated a turnover of around 170 million euros in 2023 with a diverse and historic client portfolio.
* Slight drop inHermes at 2,127 euros. Barclays lowered the slider from 2,410 to 2,320 euros (‘overweight’).